Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Business
Should Singapore Adopt ‘Say On Pay’, Clarence Goh
Should Singapore Adopt ‘Say On Pay’, Clarence Goh
Research Collection School Of Accountancy
In the corporate setting, the remuneration of chief executive officers (CEOs) and senior executives is typically determined by the board of directors. In many countries, corporate governance codes have been developed to provide guidance on such remuneration practices. However, there has been a recent trend of countries adopting regulations which allow shareholders some form of voting rights on executive remuneration. Such voting rights are commonly referred to as Say on Pay (SoP) votes.
Activist Directors: Determinants And Consequences, Ian D Gow, Sa-Pyung Sean Shin, Suraj Srinivasan
Activist Directors: Determinants And Consequences, Ian D Gow, Sa-Pyung Sean Shin, Suraj Srinivasan
Research Collection School Of Accountancy
This paper examines the determinants and consequences of hedge fund activism with a focuson activist directors, i.e., those directors appointed in response to demands by activists.Using a sample of 1,969 activism events over the period 2004–2012, we identify 824 activistdirectors. We find that activists are more likely to gain board seats at smaller firms and thosewith weaker stock price performance. Activists remain as shareholders longer when they haveboard seats, with holding periods consistent with conventional notions of “long-term” institutionalinvestors. As in prior research, we find positive announcement-period returns of around4–5% when a firm is targeted by activists, and a 2% …